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Monday, March 3, 2014

Update on the long term Elliott Wave count on the Nikkei Index. The Nikkei Index just hit a mulit decade declining resistance line, and as we expected the Index failed to penetrate.

Monthly long term chart of the Japanese Nikkei Index. Click in the above chart for larger picture.

We think the bear market in the Japanese stock market will resume after a relief rally that is already underway and recommend to short this rally the Nikkei Index. You can use the long term declining resistance line for risk management.

Nikkei 225, more commonly called the Nikkei, the Nikkei index or the Nikkei Stock Average, is a stock market index for the Tokyo Stock Exchange.

The above is an extract from our monthly Elliott Wave Technician Investment Newsletter published 28th of February 2014. You can subscribe to our newsletter at web site elliottwavetechnician.com